Many car dealers today are struggling in various ways, with competition in local markets having never been fiercer. While it will often be possible to improve how a dealer does things on its own, seeking out the support and assistance of others can make even more sense.
Lenders like Consumer Portfolio Services, for instance, open up new opportunities for many of the dealers who partner with them. Choosing to work with such a company can end up solving many of a dealership’s problems while also enabling entirely new options.
A Partnership That Will Always Pay Off
A persistent problem among dealers is not being able to arrange adequate financing for certain would-be car buyers. Especially given the relatively tight credit standards that are common today, many shoppers find themselves locked out of traditional borrowing options.
Fortunately, there are lenders that specialize in serving precisely such consumers. By partnering with particular dealers who take on the responsibility of qualifying shoppers for loans, the lenders provide an especially important service. Dealers who do choose to work with such lenders can typically count on benefits including:
- More sales. When financing becomes available to car buyers who would otherwise have been denied, an additional sale almost always follows. Being able, as a dealer, to extend a loan to a car shopper who would not have qualified for other types of financing can significantly expand the size of a given dealership’s customer base. That alone will often be enough reason to look into such possibilities and how to make use of them.
- More leads. Lenders who focus on this type of business always do better themselves when the dealers they work with sell more cars. As a result, some of these lenders put a great deal of effort into cultivating leads to pass on to their partners. Instead of needing to work or pay for the development of these valuable resources, dealers can simply sit back and make the most of them.
An Option Many Dealers Will Do Well to Explore
Rather than struggling on alone, it will almost always make more sense for car dealers to look into possibilities like this one. Doing so can turn around even a dealership that had previously grappled with real problems.